Intrua Financial LLC purchased a new stake in shares of Amcor PLC (NYSE:AMCR – Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,026 shares of the company’s stock, valued at approximately $503,000.
A number of other hedge funds have also bought and sold shares of AMCR. Foresight Capital Management Advisors Inc. bought a new position in Amcor during the third quarter valued at about $25,000. Bangor Savings Bank bought a new stake in Amcor in the second quarter worth about $26,000. Western Wealth Management LLC bought a new stake in Amcor in the first quarter worth about $27,000. Palladiem LLC purchased a new position in Amcor in the first quarter valued at about $34,000. Finally, Latitude Advisors LLC purchased a new position in Amcor in the third quarter valued at about $40,000. 45.14% of the stock is currently owned by institutional investors.
Amcor Stock Down 0.1%
Amcor stock opened at $47.34 on Monday. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The firm has a market capitalization of $21.89 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 2.96 and a beta of 0.58. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17. The firm has a 50 day simple moving average of $44.04 and a 200 day simple moving average of $43.06.
Amcor (NYSE:AMCR – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. The firm had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.05 billion. Amcor had a return on equity of 15.92% and a net margin of 4.71%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share. On average, analysts predict that Amcor PLC will post 1.83 earnings per share for the current year.
Amcor Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Friday, September 4th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.60 dividend on an annualized basis and a yield of 5.5%. Amcor’s dividend payout ratio is 110.17%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. Truist Financial set a $51.00 price objective on Amcor in a report on Tuesday, August 18th. Bank of America raised their target price on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. lowered Amcor from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $44.00 to $47.00 in a research note on Monday, August 17th. Finally, Citigroup reaffirmed a “buy” rating and set a $52.00 price target (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Amcor has a consensus rating of “Moderate Buy” and a consensus price target of $49.36.
Get Our Latest Stock Analysis on Amcor
About Amcor
Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.
The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.
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